Homebuyers are big clients, and the market has many appeasers for them. Convincing a homebuyer or real estate investor isn’t an easy task, but nowadays their own research makes things easier for real estate agents. Before they buy a condo in Lakeview Village Mississauga, they are often already equipped with some basic info about the development.

Lakeview Village is an exciting 177-acre project set to transform the city’s waterfront. This ambitious development will turn an old industrial power generation site into a lively, green community. It aims to blend city living with nature along Lake Ontario’s shores. Homes here are expected to be marvellous with amazing amenities. You can see this project thoroughly if you want Mississauaga waterfront condos.

However, prices can be expensive as a result. As this new area takes shape, many people are looking to buy homes here. But investing in a pre-built community this big needs careful thought and planning. Let’s explore some key tips to help you make a smart choice and enjoy your new home in this lakeside community.

1. Understand the Lakeview Village Development Master Plan

The master plan for Lakeview Village is like a roadmap for the future. It shows how this new area will grow and change. The plan includes 8 million square feet of new buildings. You’ll find different types of homes, from condos to townhouses. There’s also a special area called the Lakeview Innovation District. It aims to bring 9,000 new jobs to the community.

Take time to read the Lakeview Village Development Master Plan carefully. It will show you how your future home fits into the bigger picture. For example, you’ll learn about the 67 acres of parks and green spaces. There’s even a 1.5 km beach planned. Knowing these details helps you picture your life in Lakeview Village. It also helps you decide which part of the community suits you best.

2. Think About Long-Term Value

When looking at waterfront condos in Mississauga, think beyond the price tag. Lakeview Village has special features that could make your home worth more over time:

• Close to Toronto: You can get downtown in just 25 minutes. This mix of lakeside living and city access is rare.
• Eco-friendly design: The focus on green building might boost home values. More people want homes that are good for the planet.
• Waterfront location: Homes with lake views or near water often sell for more. They tend to go up in value faster than homes farther inland.
• Everything nearby: Homes, shops, and fun spots are all in one place. This can make the area more desirable and valuable.

In the past ten years, similar waterfront areas near Toronto have seen home values go up by 5-7% each year. While we can’t predict the future, this gives you an idea of what might happen. Keep in mind that past growth doesn’t guarantee future results.

3. Get to Know the Pre-Construction Process

Buying a home that isn’t built yet is different from buying an existing house. Here’s what you need to know:

Usually, you pay 15-20% of the price as a deposit. This is spread out over 12-18 months. It gives you time to save, but you need a steady income to make these payments.

Building often takes 3-5 years from when you buy to when you can move in. This long wait can help you save more money. But it also means you need to be patient. Keep in mind that delays are common in big projects like this.

4. Read the Purchase Agreement Carefully

The purchase agreement is a crucial document. It’s often complex, so it’s wise to get help from a lawyer who knows about pre-built homes. These agreements sometimes let builders change things like unit size or finishes by up to 5% without asking you. 

In Ontario, you have 10 days to change your mind after signing. During this time, you can cancel without penalty. A good lawyer can explain what each part of the agreement means for you. They might even help you get better terms, saving you money or protecting your interests.

5. Plan Your Budget Wisely

When you buy a home in Lakeview Village, you’ll pay more than just the listing price. Here are some extra costs to plan for:

• Development charges: These help build roads and parks. In Toronto, 20-25% of the cost of new housing is development charges. These charges may vary depending on which pre-construction project you are investing at Lakeview Village.
• Upgrades: Want fancier counters or floors? This often adds 5-10% to the price. But it can be more or less, depending on what you choose.
• Land transfer fees: You pay these to the city and the province. The cost depends on how much your home costs, but it can be a big amount.
• Lawyer and insurance costs: These usually cost about 1.5% to 4% of what you pay for your home. This covers your lawyer, insurance for your home’s title, and other costs when you buy.
• Regular bills: Don’t forget about ongoing costs. You’ll have property taxes, maybe condo fees, and utility bills each month. Check what others pay in the area so you’re not surprised.

Think about all these costs when planning. It’ll help you know the real price of your new waterfront home.

Make a budget that includes all these costs. This will give you a clear picture of what you’ll really spend. It helps you avoid money stress and choose a home you can truly afford.

Buying a home in Lakeview Village is more than just a purchase. It’s a chance to be part of a new kind of community. This area is setting new standards for urban living. It aims to be eco-friendly, with smart city tech and energy-saving systems.

Conclusion

Remember, Lakeview Village in Mississauga offers a whole lifestyle. The 15-acre Innovation Corridor will bring jobs close to home. The big waterfront park and 600-meter pier will give you rare access to nature in the city.

Stay excited, but also be practical. Big projects like this can change over time. Keep in touch with the developer. Ask questions about any changes and how they might affect your home.

Lastly, think about your future. Whether you want a forever home, an investment, or a place to downsize, consider how Lakeview Village will grow. With good research and planning, you can make a smart choice in this exciting new part of Mississauga’s waterfront.

If you need more info on Lakeview Village, you can contact us at 647-302-8111 or send us an email at [email protected]. You can also fill in the details our team will contact you within 24 hours.